Insurers must transform to overcome the challenges of the post-recession business world—but how? Using Accenture High Performance Business research, we identify six business models that insurers should consider.
After a decade or more of high profitability, the insurance sector faces a starker future in the wake of the recent recession. Low gross domestic product growth, commoditization of insurance products, low interest rates and intensifying competition from intermediaries will affect the profitability of insurers. On the other hand, a changing consumer landscape, new sources of growth and the consumerization of IT all offer opportunities.
One thing is clear: insurers must equip themselves to meet these new challenges. This groundbreaking paper details the trends shaping the insurance industry and the six business models that can help guide insurers’ transformation plans—enabling a return to growth and sustainable high performance.